Any news on the Emini "blowup" of November 14, 2006??

Discussion in 'Index Futures' started by cknucks, Nov 15, 2006.

  1. cknucks


    (This will sound sketchy b/c I have limited info, but stick with me)

    This morning, I saw an interview on Bloomberg TV with a money manager who said that yesterday, the S&Ps spiked when a "mid-sized fund" that had shorted the E-Minis blew up, incurring massive losses and having to buy back its position.

    If you look at the volume from yesterday, you'll see that between 2:42 NYTime and 2:47 NYTime, more than 100K eminis traded.

    Since then I've been expecting to hear about a fund having problems and suffering massive losses. Have any of you heard anything more about it?